revolving credit

American  

noun

1. credit automatically available up to a predetermined limit while payments are periodically made.

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revolving credit British  

noun

1. a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded

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Etymology

Origin of revolving credit

First recorded in 1915–20

Example Sentences

The agency noted that the acquisition, if completed, “will result in materially higher leverage,” citing Paramount’s $58 billion debt commitment—which includes an existing $3.5 billion revolving credit facility—to fund the acquisition.

From Barron's

If completed, Fitch expects the deal to drive leverage up significantly, noting Paramount’s $58 billion debt commitment—which includes an existing $3.5 billion revolving credit facility—to fund the acquisition.

From The Wall Street Journal

Wall Street seems to agree: Susquehanna analysts in January made the case for Affirm to take market share from revolving credit over time.

From Barron's

The streaming giant said it entered into a senior unsecured revolving credit agreement that provides up to $5 billion in financing for the Warner Bros. merger deal.

From MarketWatch

The revolving credit facility will mature three years after the Warner Bros. deal closes, three years after the deal is terminated, or by Dec. 19, 2030–whichever occurs earliest, according to the filing.

From The Wall Street Journal